Bank of Japan Seeks ‘Plain, Easy-to-Cook’ CBDC Model

Bank of Japan Seeks ‘Plain, Easy-to-Cook’ CBDC Model
The Bank of Japan (BoJ) would try to develop a central bank digital currency (CBDC) that can easily coexist with private payment methods, Executive Director Shinichi Uchida said in a speech.Seeking “vertical coexistence,” with other payment methods used by the public, a CBDC should be made of “relatively plan, easy-to-cook material,” Shinichi Uchida said on Friday.The central bank official cited an example in which a CBDC could be used within a digital wallet provided by a private company.“There are various options, but the Bank of Japan would like to work with you to draw an overall picture of the payment…